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Brokerage, Industry, Residential Real Estate, Misc

November 28, 2018

Five Tips to Build A Successful Real Estate Team

More and more agents are forming teams (which may include Administrative Assistants, Transaction Coordinators, Buyers Agents, or Marketing Managers) so that they can spend more time personally connecting with the people in their Sphere of Influence.

Share the Load

They recognize that they don’t have to do it all. The challenge is how to effectively manage your team, no matter how big or small. Here are some ideas:

Tip #1 Set Clear Expectations – the first step in getting what you want from your employees is for you to know what you want from your employees. Dedicate time to clearly writing out what you want and expect from each person on your team. Then clearly communicate it to your employees both verbally and in writing. A clear job description is a good place to start. One of the most common reasons people don’t do what is expected is that they don’t know what is expected.

Tip #2 Hold People Accountable – Once you have clearly communicated what you want the people on your team to do, and when you want it done by, it is time to follow-up. Weekly meetings help everyone stay focused and accountable for the work that is most important. For example, when I was a manager, I expected my employees to notify me ahead of time if they would not be meeting a deadline, rather than let the deadline pass and say nothing. This helps people develop their own internal accountability.

Tip #3 Delegate Effectively – The art of delegation combines providing clear expectations with holding people accountable. I have developed a worksheet titled “How to Effectively Delegate Work.” It is a step-by-step systematic process, which when followed, helps ensure that you get the results you want when you want them. For a complimentary copy of this Delegation worksheet, visit www.stuartkaufman.com/delegate.html. The key to delegation is knowing what you want, trusting others, and letting go of things having to be done your way.

Tip #4 Be Willing to Confront – In order to get the results you want, at some point, you will need to confront people in a firm, yet respectful, way. This can be difficult if we have family or friends that are part of our team. Here we separate personalities from business needs since the work that is required is based on creating/maintaining a healthy business. In some instances, my clients have to choose what they want – a viable and profitable business or a friendship with an underperforming employee. The choice is theirs to make.

Tip #5 Be a Mentor – Finally, be a positive role model for your employees. Model the behaviors and attitudes that you want the people on your team to have. If you show up disorganized, missing your own deadlines, and unclear of your goals, it will impact their ability to do their job. On the other hand, when you show up with a written plan and priorities and are clear on what you expect of your team, they will meet, or even exceed your expectations.
Being a Real Estate agent who manages a team, no matter how big, is challenging. Your team is looking to you for direction, inspiration, support, and trust in their ability to do their jobs. Spend the time it takes to effectively lead your team.
 
(Stuart Kaufman, MS, MBA, is a Real Estate Business Coach who specializes in helping real estate agents earn a six-figure income working 40 hours per week. He also specializes in helping real estate agents, who have teams, manage them more effectively and efficiently. Stuart resides in Washington State and is a regular contributor to numerous real estate publications nationwide. Got a question for the coach? Contact Stuart at coach@stuartkaufman.com.)

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Brokerage, Industry, Residential Real Estate, Misc

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